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7th June 2023
Mobile Streams plc, the AIM quoted mobile content and data intelligence company, is pleased to announce it has signed an exclusive commercial partnership with Bitso, the leading financial services company powered by crypto in Latin America.
Founded in 2014 Bitso, www.bitso.com, announced in 2023 it had surpassed seven million customers globally and just the year before it reported that it provided institutional services to 1,500 business clients. Bitso began its expansion in the continent with the official launch of its operations in Argentina in February 2020. In May 2021, the company started operations in Brazil and in 2022 launched their operations in Colombia. Bitso's most recent valuation was US$2.2 billion (With backers like Tiger Global, LatAm crypto exchange Bitso raises $250M at a $2.2B valuation | TechCrunch).
MOS has signed a 1 year exclusive commercial partnership with Bitso for sporting NFTs. Under the terms of the partnership, the Company will offer Bitso the opportunity to promote all MOS NFT products from its licences and create joint NFT collections. Bitso may advertise both MOS NFT products and jointly created collections across all Bitso channels. Under the agreement there are no costs to MOS and the Company will pay Bitso a modest revenue share for any products sold.
Non-Fungible Tokens ("NFTs") are digital data stored in a blockchain, a form of distributed ledger. The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded. In effect the Company's products are digital merchandise. An example would be a sports trading card - NFTs produced under this contract are one-of-a-kind trading cards. If you traded it for a different card, you'd have something completely different.
Mark Epstein, CEO Mobile Streams plc, said: "We are delighted to announce this commercial partnership with Bitso. We are proud to be working with the largest Crypto company in LatAm. We feel their market reach and tech combined with our sporting NFT licences and products makes a very powerful combination and should add an important sales channel for our products. Bitso has an incredibly talented team of people and it's a pleasure to be working with them."